ASX-listed betting giant Tabcorp has warned the Albanese government that blocking gaming and tobacco firms from receiving tax breaks for research and development will compromise its ability to conduct studies into anti-money laundering and counterterrorism measures.
But the Alliance for Gaming Reform (AGR) has strongly backed the government’s proposal, which it says recognises that while gaming is legal, it is not the type of activity that deserves public subsidies.
The government’s legislation proposes denying gaming and tobacco companies access to existing tax breaks, worth up to 16.5% of R&D expenditure, unless the work targets harm minimisation.
In a submission to a Senate economics committee inquiry into the proposal, Tabcorp — responsible for brands TAB, Sky Racing and MAX — backs the harm minimisation exception, insisting “safer gambling is at the heart of everything we do”.
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